It couldn't have come at a better time. Sentiment on the LME metals complex is still trapped between the conflicting signals coming from East and West, resulting in choppy, consolidatory price action. However, downside momentum has stalled across the board with predators now looking for "relative value" plays.
Even as stockpiling in China is set to raise the bar for the price of tin, miners in Peru may go on strike on March 15, which could bring on some pressure. Queensland Small Miners too have blamed the government for not adequately supporting small miners.
PHI Mining Group, Inc., announced that Truong Son Metal Mineral Joint Stock Company, a joint venture company between Truong Son General Group of Youth Volunteers and Indochina Mining Corporation.
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Many mining companies across all base metals have cut production at loss-making operations and delayed future projects as demand and prices have slumped.
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China has been bailing out its struggling domestic smelters by stockpiling metals since December. Heralding the Chinese New Year, wherein most companies and projects run overtime during the Spring Festival in order to ensure annual production plan, several firms have decided to take the long road.
NQM has acquired the mining leases, which include Stannary Hills, from Nickelseekers Pty Limited, having paid $200,000 plus 1,000,000 shares in NQM.
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North Queensland Metals Limited has acquired a suite of tin mining leases immediately to the north of NQM’s EPM 14741 tenement at Herberton, in far north Queensland.
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Normally, tin doesn't get a lot of attention. The lowly, non glamorous tin is becoming increasingly important however, overtaking lead as the metal of choice in modern electronics soldering, especially after EU regulations requiring lead-free solders was implemented in 2006. In 2006, tin accounted for 50 per cent of solders; in 2007, that market share grew to 52 per cent.
Adex Mining Inc. announcef the completion of a mineralogy characterization test program for the recovery and extraction of tungsten, molybdenum, tin and indium at the Company’s Mount Pleasant Mine Property located in southwestern New Brunswick.
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The world’s leading tin miner, PT Timah has announced it may restrict refined tin production in an attempt to counteract falling prices. PT Timah’s production curbs are representative of a growing trend in Indonesia. Tin smelters across the nation are halting production.
Wednesday, March 18, 2009
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